JPMorgan Chase & Co. Cuts Stock Position in AtriCure, Inc. (NASDAQ:ATRC)

JPMorgan Chase & Co. decreased its holdings in shares of AtriCure, Inc. (NASDAQ:ATRC) by 21.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 255,144 shares of the medical device company’s stock after selling 70,003 shares during the period. JPMorgan Chase & Co. owned about 0.52% of AtriCure worth $7,154,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in ATRC. Franklin Resources Inc. raised its position in AtriCure by 0.9% during the third quarter. Franklin Resources Inc. now owns 56,843 shares of the medical device company’s stock worth $1,569,000 after acquiring an additional 484 shares during the period. Geode Capital Management LLC raised its position in shares of AtriCure by 2.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,152,628 shares of the medical device company’s stock worth $32,326,000 after purchasing an additional 32,676 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in AtriCure during the 3rd quarter worth approximately $614,000. Wellington Management Group LLP raised its holdings in shares of AtriCure by 0.4% during the third quarter. Wellington Management Group LLP now owns 1,543,896 shares of the medical device company’s stock valued at $43,291,000 after acquiring an additional 6,045 shares during the last quarter. Finally, Two Sigma Advisers LP lifted its position in shares of AtriCure by 14.6% in the third quarter. Two Sigma Advisers LP now owns 664,100 shares of the medical device company’s stock valued at $18,621,000 after acquiring an additional 84,700 shares in the last quarter. Institutional investors and hedge funds own 99.11% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $40.00 price target on shares of AtriCure in a research note on Tuesday, December 17th. Needham & Company LLC reissued a “buy” rating and issued a $40.00 target price on shares of AtriCure in a research note on Monday. Canaccord Genuity Group boosted their target price on AtriCure from $53.00 to $61.00 and gave the stock a “buy” rating in a report on Monday, December 9th. UBS Group increased their price target on AtriCure from $35.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Finally, Oppenheimer lifted their price objective on AtriCure from $32.00 to $36.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $42.00.

AtriCure Trading Up 0.9 %

ATRC opened at $34.69 on Wednesday. The stock has a market capitalization of $1.69 billion, a PE ratio of -41.80 and a beta of 1.42. AtriCure, Inc. has a one year low of $18.94 and a one year high of $39.04. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.59 and a current ratio of 3.62. The business’s 50 day moving average price is $33.82 and its 200 day moving average price is $28.72.

AtriCure (NASDAQ:ATRC) last announced its quarterly earnings results on Tuesday, October 29th. The medical device company reported ($0.17) EPS for the quarter, beating the consensus estimate of ($0.19) by $0.02. The business had revenue of $115.91 million for the quarter, compared to analyst estimates of $112.23 million. AtriCure had a negative return on equity of 8.12% and a negative net margin of 8.70%. The company’s quarterly revenue was up 17.9% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.20) EPS. As a group, equities research analysts expect that AtriCure, Inc. will post -0.72 EPS for the current year.

AtriCure Company Profile

AtriCure, Inc develops, manufactures, and sells devices for surgical ablation of cardiac tissue, exclusion of the left atrial appendage, and temporarily blocking pain by ablating peripheral nerves to medical centers in the United States, Europe, the Asia-Pacific, and internationally. The company offers Isolator Synergy Clamps, single-use disposable radio frequency products; multifunctional pens and linear ablation devices, such as the MAX Pen device that enables surgeons to evaluate cardiac arrhythmias, perform temporary cardiac pacing, sensing, and stimulation, and ablate cardiac tissue with the same device; and the Coolrail device, which enables users to make longer linear lines of ablation.